The National Pension Commission (PenCom) has granted regulatory approval for Leadway Holdings Limited’s acquisition of Pensions Alliance Limited (PAL Pensions) representing a significant development in one of the pension industry’s consolidations in recent years.
The regulatory clearance officially completes the acquisition, where Leadway will focus on leveraging the strengths of both entities setting the stage for a bold new chapter in its journey of growth and leadership within Nigeria’s pension industry. This further cements Leadway’s position as one of the most diversified financial services groups in the country, with strategic interests across insurance, pensions, asset management, trusteeship, and investment solutions.
With the acquisition completion, Leadway will commence the process of integrating the operations of Leadway Pensure PFA (Leadway Pensure) and PAL Pensions, subject to regulatory oversight. In a strategic move to ensure customer continuity and trust, both brands will, tentatively, continue to operate concurrently with the dual approach designed to ensure seamless transition combining their collective strengths in governance, technology, and customer service.
Speaking on the development, Tunde Hassan-Odukale, Group Managing Director, Leadway Holdings Limited, described the approval and completion as a defining moment in the company’s history. “The completion of this transaction is a major milestone, for Leadway, and a significant step forward for the broader pensions industry. We are bringing together two trusted and high-performing brands under one vision, focused on delivering improved value, innovation, and long-term security for our contributors. This move positions us to set new standards for pension administration in Nigeria,” Hassan-Odukale stated.
“This acquisition is about building a more robust platform the future,” Hassan-Odukale added. “We see enormous potential in the pension sector, particularly among young Nigerians who are just starting their financial journey. By combining the expertise and resources of Leadway Pensure and PAL Pensions, we are better equipped to meet the needs of our diverse customer base and help them create wealth for tomorrow.”
The acquisition reinforces Leadway’s long-term commitment to expanding its footprint within the financial services sector. By combining the scale, expertise, and networks of both organisations, the company aims to accelerate innovation, improve contributor engagement, and deliver broader access to pension services nationwide. This strategic move will strengthen the competitive landscape of the pension industry, creating a stronger and more resilient pension administrator that blends agility with stability in a sector that continues to evolve through regulatory reforms and increasing technology adoption.
Beyond business growth, the acquisition reflects Leadway’s long-term vision of driving financial inclusion by leveraging its expanded reach and digital capabilities to extend pension access to underserved populations. Leadway also reaffirms its commitment to work closely with the PenCom to ensure a seamless transition, uphold the highest regulatory standards, and guarantee the security of contributors’ funds.
About Leadway Holdings Limited
Leadway Holdings Limited is a diversified non-operating financial services group with market-leading positions across insurance, pensions, asset management, trusteeship, and investment solutions. Since its incorporation in 1970, Leadway has evolved from a traditional insurer into a broad-based financial services platform with interests spanning general and life insurance, pensions, wealth and asset management, health insurance, and hospitality.
For over five decades, the Group has built a reputation for discipline,integrity, innovation, and strong governance, consistently delivering customer-focused solutions that help individuals and institutions protect, grow, and transfer wealth. Today, Leadway Holdings oversees its portfolio of businesses as one of Nigeria’s most trusted and resilient financial services groups.
